Citra Pacific builds petrochemical plant

Citra Pacific builds petrochemical plant

JP/alx

JAKARTA (JP): Citra Pacific Aromatics Indonesia shareholders
formally signed yesterday articles of association for the
establishment of the company, which will build and operate a
petrochemical plant in Cilegon, West Java.

Hengky Ticoalu, a commissioner of the company, president
Arifin Panigoro and chief commissioner Prayogo Pangestu (pictured
from left to right) celebrated the company's formal
establishment.

Ninety-five percent of Citra Pacific shares are owned by
Indonesian businesspeople, led by Arifin and include a group
representing shareholders of PT Chandra Asri, Indonesia's first
olefin producer. The remaining 5 percent is owned by Germany's
Krupp Uhde, a chemical and environmental engineering company.

Arifin, also chairman of the Medco group, said yesterday the
project would support the country's downstream petrochemical
industry.

Construction of the new plant would begin next month and be
ready for operation in mid-1999, he said.

The plant will be able to produce 125,000 tons of benzene a
year, 72,000 tons of toluene and 29,000 tons of xylenes.

It is to be built on a four-hectare site adjacent to the
country's sole olefin facility, Chandra Asri Petrochemicals
Center.

It will process pyrolyzes gasoline supplied from Chandra
Asri's ethylene cracker.

Chandra Asri's annual 240,000 tons of pyrolyzes gasoline is
currently exported for use as a gasoline additive or for further
processing. (das)